UAE non-oil foreign trade up by 14.6% in 2024 to reach $816bn
Abu Dhabi, UAE -- UAE's non-oil foreign trade increased by a record 14.6 percent in 2024, compared to 2023, reaching...Business Economy
Norway nears 100% goal of all-electric cars
By comparison, the share of electric cars in Europe was just 13.6 percent in the full-year 2024, a decline for...Technology Business Energy
Porsche sales revenue up
The sports car maker posted gains one year after its IPO.In the first half of 2023, Porsche posted significant gains in group sales revenue, group operating profit and deliveries
The sports car maker, after going public, set up individual partnerships in the field of software with Apple and Mobileye
Meta technology chief defends tech titan’s AI strategy
The company launched AI-infused chatbots with personalities at the gathering, along with tools for creating images or written content using..."The majority of the world's population will have their first experience of generative AI with us," said Andrew Bosworth
Bosworth was adamant that Meta is not behind, enhancing its global platforms with AI since before ChatGPT was launched
Old Doha Port signs many agreements during Monaco Yacht Show
Monaco, Monaco--The Old Doha Port has signed several agreements with professional global companies, specialized in yacht during its participation in...The executive director of the Old Doha Port said the objective of the participation in the show was to put the port on the global map
The port officials showcased a model to streamline visiting yachts through a mechanism of entry and exit from Qatar
Saudi Arabia projects 2024 budget deficit at 1.9% of GDP
The kingdom's finance ministry estimated expenditures for 2024 to be at US$333.5 billion. According to the ministry, the projection is...The kingdom's finance minister said that the government will continue implementing fiscal and economic structural reforms
The minister also noted the important role of the PIF and development funds that enhance the growth of non-oil GDP
UN conference adopts plan to reduce harmful chemicals
PARIS, FRANCE - A new roadmap to reduce the environmental risks from chemicals and waste was adopted at a United Nations...The plan sets out 28 concrete targets and guidelines for key sectors across the entire lifecycle of chemicals, from production to waste.
It calls for a transition to more sustainable chemical alternatives, responsible management of chemicals in industry, agriculture and healthcare.
ADB capital reforms unlock $100bn to support Asia and the Pacific region
MANILA, PHILIPPINES - The Asian Development Bank (ADB) approved capital management reforms that unlock US$100 billion in new funding capacity...The expansion of available funds will be further leveraged by mobilizing private and domestic capital required to tackle the climate crisis.
The reforms also create a Countercyclical Lending Buffer to support ADB developing member countries facing unexpected crises.
The many ways US government shutdown affects people
WASHINGTON, US - The United States is heading toward a government shutdown this weekend with no foreseeable way out of a...Sharp disagreements in the Republican Party has prevented passage of the bills needed to keep the government funded and open.
The credit ratings agency Moody's warned this week that a shutdown would be "credit negative" for US sovereign debt.
Crypto fund co-founder arrested, jailed in Singapore
According to the company's liquidator, Su Zhu was detained at Singapore's Changi airport while trying to leave the city-state. He...Kyle Davies, his co-founder, was also committed to four months in prison but "his whereabouts remain unknown"
The country's monetary authority had banned the pair "from conducting regulated investment activity for nine years each"
Saudi Fund for Development and Seychelles sign US$25m loan agreements
Riyadh, Saudi Arabia-- The Saudi Fund for Development (SFD) has signed two loan agreements with Seychelles to support the social...The SFD will contribute $25 million to support the social housing project in the Seychelles and the reconstruction of La Digue School project
The fund has so far implemented 700 development projects and programs in more than 90 countries with a value surpassing $18.7 billion
Greece and Saudi Arabia agree to link their power grids
Athens, Greece - Greece and Saudi Arabia announced their agreement to establish a jointly-owned company with the goal of connecting...The collaboration between Greece's Independent Power Transmission Operator and Saudi National Grid will result in each party holding a 50 percent stake
Besides this partnership with Saudi Arabia, Greece is also in the process of constructing an undersea cable to link its grid with Egypt
